The fall in house prices has accelerated in England and Wales, according to the Land Registry.
Its latest report shows that prices fell by 1.9% in August, taking the annual rate of price deflation to 4.6%.
The figures mean that the average property now costs Ј174,493; Ј8,320 less than a year ago, with Ј3,871 of that drop occurring last month.
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Two months ago the Land Registry was suggesting that prices across England and Wales were, on average, still 0.1% higher than a year ago.
But with prices falling sharply in August, its monthly survey is starting to catch up fast with the surveys of lenders such as the Halifax and the Nationwide who have both reported that prices are down by 11% in the past year.
(BBC)
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